Marriott’s Right of First Refusal Sells Your Timeshare on the Resale Market. March 25, 2008
Posted by Bryan Connelly in : ARDA, Donate a Timeshare, General, JetShare, Marriott Timeshares, New Features, News & Events, RCI, Timeshare Rental, Timeshare Resale, Timeshare Resource, Travel, Westgate Timeshares , trackbackVacation Property Resales has always brought the lowest prices on the market to those looking to buy a timeshare. Marriott, in attempts to keep the value of their properties up, has decided to exercise its right of first refusal. This means that the Marriott resort where your property is located has the first option to purchase the timeshare that you wish to sell, for your listed price, before any private buyer. Though it used to be rare for a developer to exercise their right of first refusal, it is becoming more common, especially for high-end luxury resorts like Hyatt, Marriott, Disney, and so on.
If you are one of the thousands of people looking to sell your Marriott timeshare, buyatimeshare.com will advertise your property until sold! When we find a buyer, our closing company will contact Marriott for you to see if they want to buy your property back. If they decline their right of first refusal—then you are free and able to continue with the private buyer. Either way, we sell your property! Of course you may find that the developer will only exercise their right of first refusal when the price is very low compared to the price which they can re-sell the property.
Developers like Westgate Resorts do not exercise a right of first refusal, so you many notice a trend in the price value of their properties compared to Marriott’s vacation properties. Even though Marriott’s Resale Operations Department provides transactional and counseling services to owners who are interested in selling their timeshares, they do not reimburse the owners for the cost of their timeshare like Vacation Property Resales does. Our Marriott inventory has been attracting buyers for close to a decade—now that Marriott themselves have began purchasing timeshares, we are certain to help you sell your timeshare.
Marriott offers a registration program which is simply a waiting list for owners to be put on when they wish to sell their property—though repurchase may not be readily available. Their listing program is not much more promising, though the Marriott Vacation Club will broker a transaction between an owner and a buyer, the owner only receives 60% of the market value—after commission, marketing, and administrative closing costs. When advertising your property with buyatimeshare.com, you keep the full amount.
A buyer who is interested in purchasing your Marriott timeshare may lose out due to Marriott intervening with a right of first refusal, however, your property will still be sold for the price you chose.
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You should know that purchasers of Marriott timeshare bought from someone other than Marriott will not be able to trade their unit for Marriott reward points.